Rondo Energy

What Rondo Energy does

Rondo Energy, founded in 2020 and headquartered in Alameda, California, develops and deploys the Rondo Heat Battery (RHB), an Electrified Thermal Energy Storage (ETES) system that converts intermittent renewable electricity into continuous high-temperature industrial heat and steam. The core technology charges thousands of tons of refractory brick using radiant electric heaters to 1100–1500°C during 6–8 hours of low-cost electricity (off-peak solar/wind), then discharges round-the-clock at over 98% round-trip efficiency, 40+ year operational life, and unlimited cycles with no storage degradation. The product line is modular and spans 33 MWh to over 1 GWh per installation, with configurations from 2 MWth to over 100 MWth, sharing a common brick-and-wire supply chain across sizes and including large 100 MWh reference systems.

The company sells primarily through long-term Heat-as-a-Service (HaaS) contracts in which Rondo owns, operates, and dispatches the asset while charging customers per MMBtu of delivered heat, often partnering with utilities (e.g., EDP for Heineken in Portugal) or local energy suppliers to bundle renewable electricity. Direct deployments and project co-development complement HaaS in markets where customers prefer to own the equipment (e.g., Eastman in Texas, Diageo in Kentucky/Illinois). Rondo's customer base spans hard-to-abate industrial sectors — cement, chemicals, petrochemicals, food & beverage, textiles, ethanol/sustainable aviation fuels, aluminum, steel, district energy, direct air capture, and pharmaceuticals — with each project typically consuming tens to hundreds of MWh and providing drop-in replacement for natural-gas-fired boilers.

Rondo is venture-backed private company with cumulative disclosed funding of more than $160M in equity across rounds led by Breakthrough Energy Ventures and Energy Impact Partners (Series A, $22M, Feb 2022), with participation from Rio Tinto, Microsoft Climate Innovation Fund, and Aramco Ventures (Aug 2023), and H&M Group (Jun 2024), plus €75M in blended grant/loan project funding from Breakthrough Energy Catalyst and the European Investment Bank (Jun 2024). The company is scaling manufacturing via a partnership with SCG Cleanergy (Siam Cement Group) targeting 90 GWh/year capacity in Thailand, operates co-development agreements with Aramco (GW-scale thermal storage), Samsung E&A (Saudi carbon capture), and Covestro (100 MWh in Germany), and has 8 deployed RHB units and 11 total commercial developments across North America, Europe, Asia, and Oceania.

Name

Rondo Energy

Legal name

Rondo Energy Inc.

Website

https://rondo.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

Rondo Energy builds the Rondo Heat Battery, an electrified thermal storage system that converts renewable electricity into continuous high-temperature industrial heat and steam, sold primarily via long-term Heat-as-a-Service contracts to hard-to-abate industrial customers in cement, chemicals, food and beverage, fuels, and textiles.

Ownership category

akta.pro rank

Product category

Industrial Thermal Energy Storage

NAICS

Steam and Air-Conditioning Supply (221330)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Onsite Low-Carbon Heat & CHP (Electrified CHP, Fuel Cells, Renewable CHP) (EUABAJAI)

Keywords

• Industrial heat battery
• Thermal energy storage
• Electrified thermal storage
• Renewable industrial heat
• High-temperature heat storage

Headquarters

HQ city

Oakland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Heat-as-a-Service (HaaS): Customers pay for delivered heat/steam under long-term service contracts rather than purchasing equipment. Rondo owns and operates the heat battery while providing guaranteed heat output. This model eliminates upfront capital costs for customers and provides predictable energy costs. The company charges for thermal energy delivered, typically at rates lower than gas-fired alternatives.
2. Equipment Sales (potential): While primary model is HaaS, the company may also sell heat battery systems directly to customers or partners. SCG partnership includes manufacturing capacity expansion suggesting potential for equipment sales.
3. Project Development and Deployment: Engineering, procurement, and construction services for custom heat battery installations. Partnerships include deployment agreements with Covestro (Germany), SCG (Thailand), and others under project financing structures.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Rondo Energy designs, manufactures, and deploys the Rondo Heat Battery (RHB), an industrial-scale thermal energy storage system that converts intermittent renewable electricity into continuous high-temperature heat and steam (1100-1500°C) using refractory brick storage at 98%+ round-trip efficiency. Rondo sells and operates RHB units under long-term Heat-as-a-Service contracts to industrial manufacturers in cement, chemicals, food & beverage, textiles, ethanol, and other energy-intensive sectors.

Product overview

Rondo Energy offers the Rondo Heat Battery (RHB) as its core product line—a thermal energy storage system that converts intermittent renewable electricity into continuous industrial heat and power. The product stores energy as high-temperature heat (1100-1500°C) in refractory bricks at 98%+ round-trip efficiency. RHB sizes range from 33 MWh to >1GWh (modular platform), with configurations from 2MWth to over 100MWth output. The company provides Heat-as-a-Service (HaaS) as a delivery model and offers downloadable technical documentation (Data Sheet). Target industries include cement, chemicals, food & beverage, steel, aluminum, mining, pharmaceuticals, petrochemicals, ethanol, textiles, district energy, direct air capture, consumer goods, and sustainable aviation fuels.

Differentiator

Problem solved

Functional benefit

Products and services

• Rondo Heat Battery (RHB) Industrial-scale thermal energy storage system that converts intermittent wind and solar electricity into continuous high-temperature heat and steam (1100-1500°C) by storing energy in refractory bricks heated by radiant electric heaters. Delivers 98%+ round-trip efficiency with unlimited charge/discharge cycles, no storage degradation, and 40+ year asset life. Configurable rated outputs from 2 MWth to over 100 MWth per unit. Sold and operated for industrial process heat, steam, and electric power generation at cement, chemical, food & beverage, and other industrial sites.
• Heat-as-a-Service (HaaS) Long-term service contract under which Rondo (often with a partner energy supplier such as EDP) owns and operates the Rondo Heat Battery at the customer's site and delivers continuous heat or steam on a pay-for-use basis. Eliminates upfront capital and operational complexity for industrial customers, providing fixed, predictable thermal energy costs that are typically lower per MMBtu than gas-fired alternatives. Sold to industrial manufacturers in cement, chemicals, food & beverage, brewing, and other process industries.
• RHB100 (100 MWh Heat Battery) Large-scale 100 MWh Rondo Heat Battery configuration delivering 24-hour industrial steam from renewable power. Sited and sized for the largest industrial heat and steam loads, including oil recovery and ethanol production. Configurable to rated outputs from 2 MWth to over 100 MWth per unit.
• RHB33 Modular Platform (33 MWh base unit) Rondo's modular heat battery platform with storage sizes ranging from 33 MWh to >1 GWh using a common design, construction, and supply chain. Each unit delivers up to 100 MWth output and uses mass-manufactured brick and wire heating elements configurable to customer needs. Built entirely in Thailand for the SCG deployment using local suppliers, including unique capability to deliver high-pressure steam used for electric power generation.

Quantifiable outcome

• 98%+ round-trip efficiency from electricity in to heat/steam out - highest of any energy storage technology
• +7 more outcomes

Named customers7 records

Segments10 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered core, strategic, flagship and minor.

• EDPcoreStrategic or Co-development Partner · 3 November 2025EDP providing Heat-as-a-Service package for Heineken brewery in Portugal. EDP installs 7 MWp solar plant and supplies 25 GWh renewable energy under long-term PPA. Combined with Rondo's 100 MWh heat battery for complete decarbonization solution.
• SAMSUNG E&AstrategicStrategic or Co-development Partner · 14 January 2025MoU signed at IKTVA 2025 for collaboration on carbon capture and direct air capture projects in Saudi Arabia. Partnership builds on Aramco MoU to deliver fully integrated projects with in-Kingdom engineering and manufacturing. Samsung E&A brings 32+ project execution track record in Saudi Arabia.
• CovestrocoreStrategic or Co-development Partner · 26 June 2024Covestro selected Rondo to deploy 100 MWh heat battery at chemical production facility in Brunsbüttel, Germany. Project backed by EU-Catalyst partnership. Heat battery will supply ~10% of site's steam demand and reduce CO2 by up to 13,000 tonnes annually. Groundbreaking Q1 2026, operational end of 2026.
• GreenLabflagshipStrategic or Co-development Partner · 26 June 2024Rondo building 'clean utilities core' at GreenLab's green industrial park in Skive, Denmark. RHB100 will generate high-pressure steam for CHP turbine, providing baseload heat and power for multiple companies. First installation at pioneering green industrial park demonstrating new energy infrastructure.
• EastmanflagshipStrategic or Co-development Partner · 14 June 2024Rondo collaborating with Eastman for thermal batteries at molecular recycling facility in Longview, Texas. DOE selected project for up to $375M funding. Facility will process 110,000 metric tons of hard-to-recycle plastic waste with up to 90% fewer emissions.
• SCG (Siam Cement Group)coreStrategic or Co-development Partner · 15 May 2024Strategic manufacturing partnership with SCG Cleanergy (wholly owned subsidiary) for heat battery deployment in Southeast Asia. SCG announced plans to expand production capacity to 90 GWh/year. Joint venture for world's first heat battery at cement plant in Thailand. SCG provides manufacturing capacity, local supply chains, and regional market access.
• Diageo North AmericaflagshipStrategic or Co-development Partner · 25 March 2024Rondo partnering with Diageo North America selected by US DOE for up to $75M funding. Heat batteries to be installed at facilities in Shelbyville, KY and Plainfield, IL. Goal of carbon neutral facilities by 2026/2028. Project partners include National Renewable Energy Laboratory (NREL).
• National Renewable Energy Laboratory (NREL)minorImplementation/ SI/ Consulting PartnerTechnical partner supporting Diageo project with techno-economic and life-cycle analyses, validating carbon reductions.

Scale indicators15 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Antora Energy: Antora Energy builds thermal energy storage systems using carbon blocks for industrial heat and power, directly competing with Rondo in delivering electrified, high-temperature industrial heat to decarbonize hard-to-abate sectors.
• Brenmiller Energy: Brenmiller Energy offers bTES (Thermal Energy Storage) systems for industrial steam and heat, a direct competitor to Rondo's electrified thermal storage approach for industrial customers globally.
• EnergyNest: EnergyNest supplies modular thermal battery solutions (HEATCRETE) for industrial heat decarbonization, positioning it as a direct competitor to Rondo in European and global industrial heat applications.
• Kyoto Group: Kyoto Group develops heat battery technology and molten salt thermal storage for industrial process heat, addressing the same industrial decarbonization use cases as Rondo, particularly in Europe.

Emerging players

• Heliogen: Heliogen uses AI-enabled concentrated solar thermal to deliver high-temperature industrial heat and energy storage, intersecting Rondo's market for renewable-powered high-temperature process heat for industrial decarbonization.

Broad incumbents

• Siemens Energy: Siemens Energy is a broad incumbent offering industrial power generation, electrification, and decarbonization solutions for heavy industry, providing alternative pathways for industrial heat and CHP that overlap with Rondo's addressable market.
• Bloom Energy: Bloom Energy's high-temperature solid oxide fuel cells deliver continuous on-site heat and power for industrial and data center customers, offering an alternative decarbonization solution for the same industrial heat end markets as Rondo.
• Honeywell UOP: Honeywell UOP supplies process technologies, catalysts, and energy solutions for refining, petrochemical, and industrial gas processing—customers that overlap with Rondo's chemicals, petrochemicals, and refining segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/rondoenergy
• LinkedInlinkedin.com/company/rondo-energy
• YouTubeyoutube.com/@RondoEnergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds5 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rondo Energy